Category: Quote of the day
Quote of the day: This is what TIF funds are for
"This is exactly what TIF funds and city incentives should be used for. There’s no question. We’re talking about a blighted area [on] the verge of bei [...]
Quote of the day: Fogelson reveals 23-acre development near McCormick Place
"It's the only vacant piece of land on Lake Shore Drive and it's ugly. Our plan is to cover this entire area."
- Jerry Fogelson, founder of Fogelson [...]
Quote of the day: A done deal?
"This is one of those votes I think a lot of us will make, holding our noses... If this doesn't happen, you are not going to have buses."
- Ald. Isaa [...]
Quote of the day: Living large in Chicago?
"Chicago’s still a bargain compared to other large urban centers. When people first start investigating deals in Chicago and they’re from New York or [...]
Quote of the day: With great power comes…what?
"I think what these developers don't understand is that it's not a right to develop, it really is a responsibility and even a privilege."
- Eric Sedl [...]
Quote of the day: Developers know best?
"They know quality. They know design. You don't want a whole bunch of people who don't know anything."
- Ald. Walter Burnett (27th), defending the pr [...]
NYT looks at Driehaus' Nickerson Mansion restoration
A tip of the hat to Lynn Becker, who directs readers to the New York Times' recent profile of Richard Driehaus. The Chicago-based investor and preserv [...]
Quote of the day: How low can you go?
"It’s almost like a limbo pole that’s almost on the ground and can’t go any lower. This is about it."
- Real-estate consultant Tracy Cross, on report [...]
Quote of the day: Kinney takes Spire's sales appointments with a grain of salt
"In this market, for the Spire to get several hundred contracts to move ahead with construction will be difficult. If they introduce 600 units priced [...]
The dog came home with a mortgage
On the economic front, the dollar continued to lose value against all major foreign currencies and most brands of bathroom tissue. There was a major c [...]
Quote of the day: getting green for going green
"In terms of waiting for the federal government, we've waited a long time, and frankly, we haven't gotten very much. And how do you change someone's b [...]
Quote of the day: lenders lose either way
"I sure am glad I'm not in the mortgage business. If I don't lend to lower-income people, I'm redlining; if I do, I'm being predatory..."
- Marc Andr [...]
Quote of the day: Existing homes struggling versus demand for new construction
"The real tale of the two condo markets in the Chicago center city is told in the pricing problems that existing units are having. In the past six mon [...]
Quote of the day: Petroleum prices will trump housing slowdown in 2008
"Lower house prices, widely forecast for next year in the aftermath of the mortgage debacle, sound ominous. Wealth will be lost on paper for many home [...]
Quotes of the day – light at the end of the tunnel
"The only light that I see at the end of the tunnel is another train coming."
- Stuart Packer, developer of a 19-unit condo conversion in West Rogers [...]
Quote of the day: Judicial bailout for homeowners?
"A strategic change in the bankruptcy code will provide homeowners facing foreclosure a degree of financial stability - even when the market cannot."
[...]
Quote of the day: For the housing market, echoes of 1929
"This is the most serious housing downturn since the Great Depression."
- Mark Zandi, of Moody's Economy.com, quoted in today's Chicago Tribune. Zand [...]
Quote of the day: the senseless rise of home prices
"The run-up of home prices made even less sense than the dot-com bubble - I mean, there wasn’t even a glamorous new technology to justify claims that [...]
Quote of the day: Cities need to become family-friendly
"Urban centers that have been traditional favorites for young singles, such as Chicago, Boston, New York, Los Angeles and San Francisco, have experien [...]
Quote of the day from Calvin Coolidge
"We have been blessed with much of material prosperity. We shall be better able to appreciate it if we remember the privations others have suffered, a [...]